The news: Travel is back. Not only did revenues at a host of experience-related companies soar in Q2, but also many of them are optimistic that consumers will continue to spend on travel and hospitality in Q3 and throughout the rest of the year.
Why it matters: While some consumers are slowing down spending due to economic headwinds, many have simply shifted their spending to experiences such as travel and dining out.
The bearish perspective: Meanwhile, retailers and brands ranging from Under Armour to Best Buy to Stanley Black & Decker have offered pessimistic outlooks due to declining consumer demand.
The big takeaway: Consumer spending has been remarkably resilient. But after two years of buying goods in lieu of services and travel, people are gravitating back to a pre-pandemic equilibrium.
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